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Home Depot shares forecast for July and August 2021

Home Depot, stock, Home Depot shares forecast for July and August 2021

Home Depot quotes continue to move within the correction and the bullish "5-0" model. Moving averages indicate the presence of a short-term upward trend in HD. Prices have broken up the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the price of Home Depot shares is 323.32. Within the framework of the forecast of the HD stock price, we should expect an attempt to develop a small correction and a test of the support level near the area of 315.00. Next, a rebound and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 365.05.

An additional signal in favor of the rise of HD quotes will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the ascending channel, which is part of the ”5-0" model. The cancellation of the option of growth in the quotes of the Home Depot company's share price will be a fall and a breakdown of the 305.00 level. This will indicate a breakdown of the support area, as well as the lower border of the bullish channel and the continuation of the fall to the area at the level of 270.00. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the level of 43.05, which will indicate a breakdown of the upper limit of the bearish channel.

Home Depot shares forecast for July and August 2021

Thus, the Home Depot stock forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 315.00. From where we should expect a rebound and an attempt to continue the rise of shares in the area above the level of 365.05. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the HD rise option will be a drop and a breakdown of the 305.00 level. This will indicate a breakdown of support and a continuation of the fall in value to the area below the level of 270.00.

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